Biotech Omthera Pharmaceuticals sets terms for $75 million IPO

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Omthera Pharmaceuticals, which is developing therapies for abnormalities in blood lipids, announced terms for its IPO on Monday. The Princeton, NJ-based company plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Omthera Pharmaceuticals would command a market value of $275 million. 

Omthera Pharmaceuticals, which was founded in 2008 and has yet to generate revenue, plans to list on the NASDAQ under the symbol OMTH. Omthera Pharmaceuticals initially filed confidentially on 1/25/2013. BofA Merrill Lynch, Barclays and Leerink Swann are the joint bookrunners on the deal. The deal is scheduled to price April 10.

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This article appears in: News Headlines , IPOs


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